Indiana Statutes
§ 5-1-5-7 — Safekeeping and application of bond proceeds
Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 1 BONDS AND OTHER OBLIGATIONS·Ch. 5 Refunding Bonds Generally
The governing body may contract with respect to
the safekeeping and application of the advance refunding bond
proceeds and other funds included therewith and the income therefrom.
The governing body may provide in the refunding plan that until such
moneys are required to redeem or retire revenue bonds to be refunded,
the refunding bond proceeds and other available funds, and the income
therefrom shall be used to pay and secure the payment of the principal
of and interest on the advance refunding bonds. The governing body
may additionally pledge for the payment of such refunding bonds any
revenues which might legally be pledged for the payment of revenue
bonds of the issuer of the type being refunded. Provisions must be
made by the governing body for moneys sufficient in amount to
accomplis
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Nearby Sections
15
§ 5-1-1-1
Validation§ 5-1-1-2
Repealed§ 5-1-10-1
Issuance; purpose; restrictions§ 5-1-11-7
Restrictions on powers§ 5-1-11.5-1
"ADM"§ 5-1-11.5-2
"Bonds"§ 5-1-11.5-3
Application to certain school corporations§ 5-1-12-1
"Municipal corporation" defined